If a company goes bankrupt, the higher the risk, the higher the income. For hedge funds, the bankruptcy of the company can be short to get rich profits. Before bankruptcy, the company wanted to seek to restructure its assets, but it was counterproductive under the continuous depreciation of the pound. The market value of the company has shrunk seriously, so the company has no way to bear huge debts and can only declare bankruptcy.

Thomas Cook, a 178-year-old pioneer of travel agencies, collapsed and declared bankruptcy. Thomas Cook is the first travel agency in the world. In recent years, due to many factors, such as poor management, fierce competition and the devaluation of the pound caused by Brexit, it finally died out. Before its bankruptcy, this established travel agency had intensively sought rescue, and Fosun Tourism Culture (1992.HK), a Hong Kong listed company, had offered an olive branch to inject capital to save it from fire and water. After many twists and turns,

Thomas Cook still failed to sign a final agreement with relevant parties and had to choose bankruptcy liquidation. Due to the creditor's reasons, the restructuring plan finally fell through, and Fosun Travel failed to win the world's century-old famous brands, but no financial losses occurred in the negotiation of this incident. On September 24th, Fosun Travel issued a clarification announcement, stating that Thomas Cook had not signed a final agreement with stakeholders.

For this 176-year-old travel company, it went through a long period of debt quagmire before bankruptcy. Before the bankruptcy, it was influenced by Brexit, and the devaluation of the pound was very serious, so the market value shrank seriously. Can't bear the debt, but go bankrupt.